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corn, wheat, and soybean futures contracts exhibited dramatic convergence failures over 2005-10.
soybeans, the net long position fell by 27,707 contracts to 57,287 in the week to April 2.
December corn stood 21-3/4 cents or 3.9 percent higher at $5.75-3/4 a bushel at 1127 GMT after peaking at $5.79-3/4, the highest price for the contract since Feb.
Electronic trading hours in its CBOT
corn, soybeans, wheat, soybean meal, soybean oil, oats and rough rice futures and options will move to 22 per day hours Monday, May 21, the CME Group announced May 1.
corn prices plunged 6.3 percent on September 30, their second-biggest drop of the year, after USDA reported US September 1 corn stocks at more than 1.1 billion bushels, topping the range of trade estimates as well as the average trade forecast of 964 million.
French milling wheat routinely competes with US soft red winter wheat, the class traded on the CBOT
But after the initial panic, the price for a bushel of wheat at the Chicago Board of Trade (CBOT
) fell by $1.12, or by over 12 percent, after it reached a zenith at $8.40 per bushel.
These contracts are listed with, and subject to, the rules and regulations of the CBOT
wheat and corn prices have tumbled in recent months.